Analysts project a 30% year-over-year increase in global battery electric vehicle sales for 2025, reaching approximately 15.1 million units, making up 16.7% of the light-duty vehicle market.
While China is expected to increase its EV market share by 19.7%, India might experience an astonishing 117% rise as it pushes for cleaner, more affordable vehicles.
Despite promising sales forecasts for 2025, geopolitical factors and potential protectionist tariffs could derail these predictions, highlighting the uncertainty in the long-term outlook for the EV sector.
EV manufacturers are better prepared for mass production now due to advancements in battery technology, more diverse models, and increased industry experience, particularly led by China's robust strategies.
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